• Education
    • Higher Education
    • Scholarships & Grants
    • Online Learning
    • School Reforms
    • Research & Innovation
  • Lifestyle
    • Travel
    • Food & Drink
    • Fashion & Beauty
    • Home & Living
    • Relationships & Family
  • Technology & Startups
    • Software & Apps
    • Startup Success Stories
    • Startups & Innovations
    • Tech Regulations
    • Venture Capital
    • Artificial Intelligence
    • Cybersecurity
    • Emerging Technologies
    • Gadgets & Devices
    • Industry Analysis
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy
Today Headline
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
Today Headline
No Result
View All Result
Home Technology & Startups

Oil prices rise with all eyes on OPEC+ supply decision

December 5, 2024
in Technology & Startups
Reading Time: 3 mins read
A A
0
4
SHARES
9
VIEWS
Share on FacebookShare on Twitter


By Yuka Obayashi

TOKYO (Reuters) – Oil prices rose on Thursday ahead of an OPEC+ meeting later in the day, with investors waiting to see what the producer group would do next on supply cuts while also monitoring tension in the Middle East.

Brent crude futures climbed 12 cents, or 0.2%, to $72.43 a barrel by 0103 GMT while U.S. crude futures were at $68.70 a barrel, up 16 cents, or 0.2%.

Both benchmarks fell nearly 2% on Wednesday.

The Organization of the Petroleum Exporting Countries and its allies in OPEC+ are likely to extend their latest round of oil production cuts by at least three months from January when it meets online at 1100 GMT on Thursday, OPEC+ sources told Reuters, to provide additional support for the oil market.

OPEC+ has been looking to phase out supply cuts through next year.

“Market participants are closely watching to see if OPEC+ will focus on bolstering prices by extending production cuts, or opt to defend its share of the global crude oil market by easing those cuts,” said Satoru Yoshida, a commodity analyst with Rakuten Securities.

“The OPEC+ decision may prompt a short-term reaction, but the oil market is likely to rise by year-end on expectations of a U.S. economic recovery under the Trump administration and ongoing Middle East tensions,” he said.

A larger-than-expected draw in U.S. crude stockpiles last week also provided some support to prices.

U.S. crude stocks fell more than expected last week as refiners ramped up operations, the Energy Information Administration (EIA) said. Gasoline and distillate stockpiles rose by more than expected during the week.

In the Middle East, Lebanon’s Hezbollah has been significantly degraded militarily by Israel, but the Iran-backed group will likely try to rebuild its stockpiles and forces and pose a long-term threat to the U.S. and its regional allies, four sources briefed on updated U.S. intelligence told Reuters.

Israel said on Tuesday it would return to war with Hezbollah if their truce collapses and that its attacks would go deeper into Lebanon and target the state itself.

Meanwhile, Donald Trump’s Middle East envoy has travelled to Qatar and Israel to kickstart the U.S. president-elect’s diplomatic push to help reach a Gaza ceasefire and hostage release deal before he takes office on Jan. 20, a source briefed on the talks told Reuters.

(Reporting by Yuka Obayashi; Editing by Sonali Paul)

Tags: Brent crude futuresMiddle EastOil pricesOPECsupply cuts
Previous Post

Popular liquor company to sell vodka brand amid struggling spirits market todayheadline

Next Post

Madrid back Mbappé to ‘do better’ after pen miss

Related Posts

Tesla tells Model Y and Cybertruck workers to stay home for a week

May 9, 2025
7

Sonos Interim CEO Says Company Has Turned a Corner and He Wants the Top Job

May 9, 2025
8
Next Post
Copy Link

Madrid back Mbappé to 'do better' after pen miss

  • Trending
  • Comments
  • Latest
Family calls for change after B.C. nurse dies by suicide after attacks on the job

Family calls for change after B.C. nurse dies by suicide after attacks on the job

April 2, 2025
Pioneering 3D printing project shares successes

Product reduces TPH levels to non-hazardous status

November 27, 2024

Hospital Mergers Fail to Deliver Better Care or Lower Costs, Study Finds todayheadline

December 31, 2024

Police ID man who died after Corso Italia fight

December 23, 2024
Harris tells supporters 'never give up' and urges peaceful transfer of power

Harris tells supporters ‘never give up’ and urges peaceful transfer of power

0
Des Moines Man Accused Of Shooting Ex-Girlfriend's Mother

Des Moines Man Accused Of Shooting Ex-Girlfriend’s Mother

0

Trump ‘looks forward’ to White House meeting with Biden

0
Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

0
An offshore wind project for New York may be abandoned over Trump administration delays

An offshore wind project for New York may be abandoned over Trump administration delays

May 9, 2025
Kansas governor wants board to reconsider parole granted to a state trooper's convicted killer

Kansas governor wants board to reconsider parole granted to a state trooper’s convicted killer

May 9, 2025
Rümeysa Öztürk: Tufs student is ordered freed after being arrested for an op-ed

Rümeysa Öztürk: Tufs student is ordered freed after being arrested for an op-ed

May 9, 2025
Bolton: Trump shouldn't test Pyongyang before Seoul settles down

Bolton: Trump shouldn’t test Pyongyang before Seoul settles down

May 9, 2025

Recent News

An offshore wind project for New York may be abandoned over Trump administration delays

An offshore wind project for New York may be abandoned over Trump administration delays

May 9, 2025
5
Kansas governor wants board to reconsider parole granted to a state trooper's convicted killer

Kansas governor wants board to reconsider parole granted to a state trooper’s convicted killer

May 9, 2025
4
Rümeysa Öztürk: Tufs student is ordered freed after being arrested for an op-ed

Rümeysa Öztürk: Tufs student is ordered freed after being arrested for an op-ed

May 9, 2025
4
Bolton: Trump shouldn't test Pyongyang before Seoul settles down

Bolton: Trump shouldn’t test Pyongyang before Seoul settles down

May 9, 2025
4

TodayHeadline is a dynamic news website dedicated to delivering up-to-date and comprehensive news coverage from around the globe.

Follow Us

Browse by Category

  • Africa
  • Asia
  • Basketball
  • Business & Finance
  • Climate Change
  • Crime & Justice
  • Economic Policies
  • Elections
  • Entertainment
  • Entrepreneurship
  • Environmental Policies
  • Europe
  • Football
  • Gadgets & Devices
  • Health
  • Medical Research
  • Mental Health
  • Middle East
  • Motorsport
  • Olympics
  • Politics
  • Public Health
  • Relationships & Family
  • Science & Environment
  • Software & Apps
  • Space Exploration
  • Sports
  • Stock Market
  • Technology & Startups
  • Tennis
  • Travel
  • Uncategorized
  • Us & Canada
  • Wildlife & Conservation
  • World News

Recent News

An offshore wind project for New York may be abandoned over Trump administration delays

An offshore wind project for New York may be abandoned over Trump administration delays

May 9, 2025
Kansas governor wants board to reconsider parole granted to a state trooper's convicted killer

Kansas governor wants board to reconsider parole granted to a state trooper’s convicted killer

May 9, 2025
  • Education
  • Lifestyle
  • Technology & Startups
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy

© 2024 Todayheadline.co

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business & Finance
  • Corporate News
  • Economic Policies
  • Entrepreneurship
  • Market Trends
  • Crime & Justice
  • Court Cases
  • Criminal Investigations
  • Cybercrime
  • Legal Reforms
  • Policing
  • Education
  • Higher Education
  • Online Learning
  • Entertainment
  • Awards & Festivals
  • Celebrity News
  • Movies
  • Music
  • Health
  • Fitness & Nutrition
  • Medical Breakthroughs
  • Mental Health
  • Pandemic Updates
  • Lifestyle
  • Fashion & Beauty
  • Food & Drink
  • Home & Living
  • Politics
  • Elections
  • Government Policies
  • International Relations
  • Legislative News
  • Political Parties
  • Africa
  • Asia
  • Europe
  • Middle East
  • Artificial Intelligence
  • Cybersecurity
  • Emerging Technologies
  • Gadgets & Devices
  • Industry Analysis
  • Basketball
  • Football
  • Motorsport
  • Olympics
  • Climate Change
  • Environmental Policies
  • Medical Research
  • Science & Environment
  • Space Exploration
  • Wildlife & Conservation
  • Sports
  • Tennis
  • Technology & Startups
  • Software & Apps
  • Startup Success Stories
  • Startups & Innovations
  • Tech Regulations
  • Venture Capital
  • Uncategorized
  • World News
  • Us & Canada
  • Public Health
  • Relationships & Family
  • Travel
  • Research & Innovation
  • Scholarships & Grants
  • School Reforms
  • Stock Market
  • TV & Streaming
  • Advertise with Us
  • Privacy & Policy
  • About us
  • Contact

© 2024 Todayheadline.co